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March 28, 2008
'08 Mortgage Fraud Losses Forecast at $2.5B
Losses from mortgage fraud will reach $2.5 billion in 2008 and comparable losses will continue for several years thereafter, according to new research from TowerGroup. TowerGroup anticipates that lenders will respond by deploying technology to assist in the detection and prevention of mortgage fraud and that their annual spending on such tools will reach several hundred million dollars in the next few years.
Posted by S. Germain at March 28, 2008 08:11 AM